Odesa City Hall told how many millions it saved by early repayment of the trolleybus loan

The Odesa City Council has fully repaid the balances on the loan from the European Bank for Reconstruction and Development in the amount of EUR 3 million 600 thousand and paid interest on the loan in the amount of EUR 156 thousand 988.

This was reported by the press service of the municipality.

The early repayment of the EBRD loan allowed to save budget funds in the amount of about 795 thousand euros, or 36 million hryvnias. The council explained that since the beginning of 2023, there has been a significant deterioration in global market conditions, which has led to a significant increase in the amount of loan payments. In this regard, an early repayment was agreed.

The fulfillment of financial obligations under the EBRD loan is financed from the budget of the Odesa City Territorial Community in accordance with the City Target Program for the Development of Electric Transport in Odesa for 2022-2026, approved by the Odesa City Council.

Taking into account the above, ME "OMET" received a replenishment of the authorized capital at the expense of the budget of the Odesa city territorial community in the amount of UAH 169 million 840 thousand for early repayment of the loan from the EBRD.

In July 2024, during an extraordinary session, members of the Odesa City Council approved a decision to allocate more than UAH 140 million from the budget for the Odesa City Electric Transport utility.

On July 10, the members of the Standing Committee on Transport and Road Facilities of the Odesa City Council voted to amend the City Target Program for the Development of Electric Transport in the City for 2022-2026.

It was expected that the purchase of new trolleybuses would increase the volume of passenger transportation by trolleybuses by 1.5 times.

It was also planned that the purchase of the new vehicles would increase the profitability of the Odesmiskelectrotrans utility by 20%, due to a reduction in material costs and a decrease in the volume of repair work. And energy-saving control systems for trolleybus traction motors will save up to 30% of electricity.

The project was to be implemented in 2015-2027. The loan was to be repaid from the utility company's total income, including income from passenger transportation, and "from other sources."